UPDATE - WE HAVE RECEIVED MULTIPLE REPORTS THAT THE AUDIO FILE ON DYLAN RATIGAN'S WEBSITE IS INFECTED WITH MALWARE. WE HAVE THEREFORE REMOVED OUR LINK TO THE ROSNER BRODCAST. THE ORIGINAL TEXT OF THE STORY REMAINS BELOW.

A collision course with a global restructuring — do the countries of this world and those who lead them have the guts to actually do it?

To find answers, we called Josh Rosner. Josh is Managing Director at independent research consultancy firm Graham Fisher & Company, where he advises regulators and investors on housing and mortgage financial issues. Josh was among the very first to identify the operational and accounting problems that were ultimately the catalyst for the collapse in 2008.

“These practices continued to be used as a method of strip Americans of their property rights, and to allow banks to pay the executives in charge exorbitant sums of money while collecting even more exorbitant subsidies from the tax base of their own country or the world,” says Dylan.

Jean-Claude Trichet is keeping the onus on governments to fix the debt crisis as the European Central Bank buys bonds to win politicians time to ax deficits.

Warning European Union leaders that they can’t rely on “benign neglect” to quell market turmoil, Trichet, the ECB’s president, is deploying a two-pronged strategy to ease roiled markets. The bank snapped up Portuguese and Irish bonds again today after Trichet yesterday assured investors that policy makers will delay the withdrawal of emergency liquidity.

The ECB wants governments to take the lead in quelling the turmoil that threatens to spread to Spain from Ireland and Greece.